Today is the options expiry date for May… finally. Time to reap (paper) profits. 
I’m not extremely excited, maybe because it is just virtual trading. Anyway, like I mentioned in my previous post, I’ve finally started trading with real money again. So far, the position is doing well.
Wanted to sell spread for PENN today, but did not. If I did, I’ll probably enjoy $100/lot profit now… cos the stock went down more than $1 today. Despite the high probability that this will be a profitable position, I chose not to take the risk because the Bid-Ask difference is just ridiculous, sometimes more than $1!! That means, even if the stock did not move, I’ll lose more than $1 just by buying the spread back (for whatever reason). But PENN really has a high chance of succeed, cos I can sell June options that’s about $8 to $9 OTM and still earn a credit of more than $1 (for a $5 spread).
Before I end this post, would like to make an appeal:
Please help the victims and survivors of Myanmar Cyclone and China Earthquake. Thank you.
http://guchialeng.wordpress.com/please-help
